The ongoing Chapter 11 case of Borders Group in U.S. bankruptcy court in Manhattan is shaping up to be a boon to nine Am Law 200 firms, who have carved out various pieces of the action in the bankruptcy of the nation’s second-largest bookseller.
Borders, which filed for bankruptcy two weeks ago, has turned to Kasowitz, Benson, Torres & Friedman as lead counsel in the Chapter 11 case. A four-page declaration filed on Tuesday by name partner and bankruptcy chair David Friedman reveals that between January 11 and February 11 of this year, Kasowitz Benson received several retainer payments totaling $2 million. The firm is seeking bankruptcy court approval to serve as general counsel to Borders, which saw its longtime general counsel Thomas Carney depart in January.
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